At the output at which the marginal product of labor is maximized, what is happening to marginal cost? When the marginal product of labor is maximized, marginal cost is minimized. At what output is marginal cost equal to average total cost? What are the implications for average total cost of the previous question? MC =ATC when Q =70. When MC =ATC, ATC is at its minimum. At what output is marginal cost equal to average variable cost? What are the implications for average variable cost of the previous question? MC =AVC when Q =60. When MC =AVC, AVC is at its minimum. What is the per unit cost of producing 60 units of output? ATC(60)=$10 What is the per unit labor cost of producing 60 units of output? AVC(60)=$6.67 What is the per unit fixed cost of producing 60 units of output?

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